Elon Musk’s Takeover of Twitter Will Add 200 million Users to Crypto
Creator of Cardano (ADA) Charles Hoskinson claims that tech titan Elon Musk’s recent acquisition of social media giant Twitter has the potential to attract an additional 200 million individuals to cryptocurrencies.
Cardano and three other Ethereum (ETH) rivals, according to Hoskinson’s remarks at Web Summit 2022, are competing to be the most scalable and interoperable protocol.
“There is an excess of exciting things on the horizon. We are now among the third generation of cryptocurrencies. The first generation represented decentralization. This is what Bitcoin has given us, and it is the victor. The second generation was smart contracts, or programmability, which Ethereum brought to the table. The third generation is scalability, interoperability, and governance, and there is a multitude of protocols in this sector.
There’s Algorand (ALGO), NEAR, Tezos (XTZ), Cardano, etc., and we’re all kind of competing. And ultimately, some victors will emerge, but on the horizon, we see things like the fourth generation with multi-resource consensus, identity embedded into the system, and a lot of post-quantum stuff, so there is a never-ending stream of exciting things that we follow.
The crypto pioneer asserts that industry acceptance is growing and that Elon Musk and the prospect of combining digital currencies like Dogecoin (DOGE) with Twitter’s roughly 250 million users may provide a further boost.
“Elon Musk’s acquisition of Twitter will likely introduce cryptocurrency to 200 million Twitter users. He has every intention of integrating crypto in some capacity. I believe this is why Binance invested $500 million. Evidently, he is a supporter of Dogecoin (DOGE), which is doing well due to the notion that integration is imminent.”